On Thu, 17 Jul 2008 15:23:18 GMT, Jim Chandler wrote:

Michael Koblic wrote:
Thankfully we do not have HOAs here.

The issue would not have arisen had I not been in the process of renewing my
policy and the question of "home business" came up. I have sold some of my
pieces to the total of less than $100 in a year. I did not set out to profit
from what I do. Calling it "business" is somewhat presumptious.

Now I am waiting for the insurance company to clarify their position via the
broker.

I do not see much point speculating on the outcome, but I was interested
what others' experience was in this direction.

Will they stop me doing what I do if I sell the stuff, i.e. is it OK if i
keep it or give it away? Will they put restricitions on the level of income?
Will they put restrictions on the type of process that can be employed, e.g
welding?

I shall know in a few days.



Based on what I know of insurance, and that's not a lot, your's should
be considered a hobby since you are not making a living at it. Our tax
laws (U.S.) allow hobbists to make SOME money without having to declare
themselves as a "business" so I would suspect that you would be pretty
much the same. Good luck on your dealings with the insurance company.

Jim
Taxation practices of the Gov't., and premium setting practices of
insurance companies have no relation to each other. When it costs the
gov't. more to collect, than the amount collected, they are willing to
ignore the source, whereas, with insurance companies, any activity
beyond lying still and breathing will increase their risk and
therefore the premium charged.
Gerry :-)}
London, Canada